Internal and External Audits

Overview

This booklet addresses the risks associated with a bank's audit function (comprising internal and external audit functions). It discusses sound practices and regulatory requirements regarding the audit function.

Applicability

This booklet applies to the OCC's supervision of national banks and federal savings associations. References to national banks in this booklet also generally apply to federal branches and agencies of foreign banking organizations. Refer to 12 USC 3102(b) and the "Federal Branches and Agencies Supervision" booklet of the Comptroller's Handbook for more information.

Worksheets

• Appendix D: 12 CFR 363 Report Worksheets (MS Word)
• Appendix E: Internal Audit Review Worksheet (MS Word)
• Appendix F: External Auditor Independence Worksheet (MS Word)
• Appendix G: Board or Audit Committee Oversight Worksheet (MS Word)
• Appendix H: OCC Acknowledgement of External Audit Work Paper Request Letter (MS Word)